Horizon Technology Finance (NASDAQ:HRZN) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Horizon Technology Finance (NASDAQ:HRZN) announced its earnings results on Tuesday. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03), Zacks reports. Horizon Technology Finance had a negative net margin of 21.19% and a positive return on equity of 17.39%. The business had revenue of $24.56 million for the quarter, compared to analysts’ expectations of $25.38 million. During the same period in the prior year, the business earned $0.53 earnings per share.

Horizon Technology Finance Stock Performance

NASDAQ HRZN traded down $0.32 during trading hours on Wednesday, hitting $9.69. The company had a trading volume of 1,134,674 shares, compared to its average volume of 285,284. Horizon Technology Finance has a 52 week low of $9.30 and a 52 week high of $13.73. The firm has a 50 day simple moving average of $10.67 and a 200 day simple moving average of $11.38. The firm has a market capitalization of $339.35 million, a price-to-earnings ratio of -23.07 and a beta of 1.23.

Horizon Technology Finance Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a $0.11 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.32 annualized dividend and a yield of 13.62%. Horizon Technology Finance’s dividend payout ratio is currently -314.29%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a research report on Thursday, August 1st. B. Riley reissued a “sell” rating and issued a $9.00 price objective (down previously from $10.00) on shares of Horizon Technology Finance in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.63.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, cleantech and sustainability industries.